Encouraging US investment in Australia under the Inflation Reduction Act and ensuring Congress passes AUKUS legislation will be the focus for Anthony Albanese.
, including developing incentives for American firms to invest in Australia, when he embarks on a four-day official visit to Washington DC this week.
One of the key focuses of the trip will be to flesh out details of the Climate, Critical Minerals and Clean Energy Transformation CompactIt is understood one of the major themes of the roundtable will be how Australia can become involved in the Inflation Reduction Act, or IRA, the administration’s $US783 billion green subsidy scheme that is turbocharging investment in clean energy.
“As we move to a clean energy global economy, Australia is in a strong position to benefit because of the critical minerals we have,” Mr Albanese said.who now sits on the board of ASX-listed critical minerals junior Tivan, acknowledged it represented a double-edged sword for a major energy exporter such as Australia.Dr Debelle said Mr Albanese should press to ensure Australian industry could move up the value chain under the IRA.
While Mr Albanese will enjoy strong access to the administration, his engagement with Congressional members – including a potential joint address –The party’s nominee, Jim Jordan, withdrew from the race over the weekend after he continued to lose support from colleagues.
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